“Avail this product for a LIMITED TIME ONLY!”―How can this strategy boost your brand’s online presence? [Thursdays: FYO!]
NiceHair is an e-commerce company that was established in Denmark in 2009.
The business offers a wide range of beauty products―from skin care and hair care products to makeup and perfumes―at an affordable price.
However, as inexpensive as the products are, NiceHair still struggles to grow its customer base and online sales. The company’s 2019 analytics showed that 67% of website visitors abandon their cart after adding items into it.
So… what did NiceHair do to gain more leads and reduce instances of cart abandonment?
It used Limited-Time Offers and Discounts!
[Limited-Time Offer: A type of promotional deal―free shipping, discount code, or free gift―that’s available for a limited time only. This type of ad usually takes the form of limited-time sales campaigns, website banners, email offers, and pop-ups.]
NiceHair set up limited-time pop-up discounts for 3 months in 2019 to ensure prospects and other online users would stay longer on the website and give the brand’s products a try.
Here’s how the digital marketing strategy worked:
Every time an online user was about to leave NiceHair’s website and abandon his or her cart without making a purchase, an exit intent pop-up ad would appear.
At first, the ad looked like any other pop-up ad with an attention-grabbing headline and call-to-action (CTA) button.
However, when curious shoppers clicked the CTA, this was what they saw next:
As you can see, the discount code was time-sensitive and could only be used once by a consumer!
If you were that online user who clicked on the ad, would you let that discount opportunity pass by?
We bet you wouldn’t―you might even rush to purchase NiceHair’s products so you wouldn’t run out of time!
By adding a time limit to the discount, the brand increased its campaign’s effectiveness and triggered consumers’ FOMO (fear of missing out).
Curious about the results NiceHair got from this marketing strategy?
During the 3-month duration of the campaign, the brand’s cart abandonment rate decreased by 50% and over 2,000 orders were completed using the limited-time discount.
Additionally, a whopping 350,000 website visitors subscribed to the brand’s newsletters!
Thanks to the limited-time offer, the brand was able to boost its sales and expand its reach!
As a business owner or marketer, why should you use time-sensitive offers to promote your brand online?
It contributes to your brand’s reputation.
Having a balanced approach to limited-time offers helps develop a positive image for your brand.
In other words, as long as you’re offering reasonable deals that are feasible and sustainable for your business, you will likely create a win-win situation through your promos.
It helps increase your brand’s profit.
The sense of urgency and FOMO created by short-term offers contributes to an increase in sales.
When done right, this strategy gives you an opportunity to make more profit than you would if you were just doing business as usual!
- It encourages repeat customers.
Limited-time offers are part of a long-term customer relations strategy. That means if you execute this type of promotion well, there’s a high chance that customers will look forward to your future deals!
It improves your sales cycle.
Time-sensitive offers are good top-of-funnel promos that can get prospects on your brand’s “nurture path.”
[Nurture Path: The process of purposefully engaging your target audience by offering relevant information and maintaining a sense of delight throughout every stage of a consumer’s journey]
Remember: Limited-time discounts helped earn 350,000 new subscribers for NiceHair. With the right approach and strategy, the brand will be able to consistently “nurture” those consumers so they end up as loyal customers!
Below are other benefits of using limited-time offers for your business:
- An increase in brand and product awareness.
- A higher engagement rate with your target market.
- Customer satisfaction and loyalty.
- Better brand reputation.
- Additional promotion for a new product or service.
If you’re thinking about a few creative tactics to launch your brand’s own limited-time promos, here are several examples you can use to appeal to your target market!
The “Hurry Up” Offer. This ad communicates to consumers their last chance to avail a promo or get a discount on everything (or almost everything), so they better act fast!
The “While Supplies Last” Offer. This is often used by makeup and fragrance companies. The fact that there are only a few sets of the products available compels consumers to quickly buy the items so they feel like they’re part of an exclusive club.
Some businesses also use these ads to promote events and create a sense of urgency about the availability of tickets, slots, or seats.
The “One Time” Offer. According to digital marketer, Neil Patel, this type of ad creates the biggest sense of FOMO among consumers. Just knowing that the offer is a one-time-only deal makes customers rush and do everything they can to get a hold of a specific item.
The “Early Bird” Offer. This type of promo offers goods, services, or event tickets at a reduced price to consumers who made an early purchase. These deals usually last for 2 to 3 months before the date of an event or at the beginning of the shopping season.
While there are different types of limited-time offers like the ones stated above, effective short-term promos share certain qualities.
- Having clear promo periods and CTAs.
- Providing information that is simple, brief, and honest.
- Being able to draw attention to new experiences offered by a brand or business.
Limited-time offers are a smart marketing move!
As long as you know how to capture your target market’s attention through these promos, you’ll be able to create a win-win situation for both you and your customers.
Consider creating a limited-time offer that will convince consumers to act fast without losing their trust or loyalty towards your brand!
About The Dynamic Marketing Communiqué’s
“Thursdays: FYO! Find You Optimization”
Why should you stop thinking SEO and start thinking FYO?
We’re not saying that you should abandon Search Engine Optimization (SEO).
Don’t get us wrong, of course, we know this is something very important, especially in today’s digital marketing age.
The internet landscape is vast, and a world of its own. You really need to distinguish yourself and make your brand/company/website known and easily searchable.
Better yet, get to the top of page one for Top Results on Google or any other search engine.
However, what is the purpose of SEO? It’s that customers Find You!
That’s what matters. So, while SEO is one factor of FYO… it really is only one, and we ought not to abandon all the myriad of ways digitally and offline for improving your FYO.
How can we look at this from a different and better perspective?
Let’s say you have it in the bag! You and your team are experts in SEO. Awesome. But did you ever wonder what else you could do to push it further and give your SEO skills a boost?
FYO! Find You Optimization!
You need your target audience to FIND YOU—your brand, product, service, or offer. This is SEO plus other tools that increase visibility online (and offline).
Every Thursday, we publish content on how you can get your target market to find you, beyond the typical “type and search.” There are other things you can do along with your SEO to give your online advertising process a boost.
Try considering other tactics beyond it—WOMO (Word Of Mouth Optimization), RO (Referral Optimization), and “All-Other-Means-Of-Getting-Your-Target-Market-To-Find-You” Optimization (AOMOGYTMTFY, if you’d like a long acronym).
Part of a great marketing strategy is knowing how to adapt new methods and make use of different types of marketing and promotion that best fit your business goals and which give you the results you want.
Hope you’ve found this week’s insights interesting and helpful.
Stay tuned for next Thursday’s FYO!
Head of Marketing
Valens Dynamic Marketing Capabilities
Powered by Valens Research